Caterpillar Inc. $CAT Stock Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System boosted its stake in Caterpillar Inc. (NYSE:CAT) by 14.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,883 shares of the industrial products company’s stock after purchasing an additional 3,419 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Caterpillar were worth $22,607,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of CAT. Decker Retirement Planning Inc. boosted its holdings in shares of Caterpillar by 440.0% in the 2nd quarter. Decker Retirement Planning Inc. now owns 27 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 22 shares during the last quarter. PFS Partners LLC increased its holdings in shares of Caterpillar by 1,750.0% during the 3rd quarter. PFS Partners LLC now owns 37 shares of the industrial products company’s stock worth $30,000 after buying an additional 35 shares during the last quarter. Matrix Trust Co increased its holdings in shares of Caterpillar by 93.8% during the 2nd quarter. Matrix Trust Co now owns 31 shares of the industrial products company’s stock worth $33,000 after buying an additional 15 shares during the last quarter. Axiom Investment Management LLC purchased a new position in shares of Caterpillar in the 2nd quarter worth $36,000. Finally, Turim 21 Investimentos Ltda. acquired a new position in Caterpillar in the first quarter valued at $46,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Recent Caterpillar Headlines

These are some of the CAT headlines that stood out recently:

• Positive Sentiment: Evercore ISI kept its Outperform rating and sees about 40% upside, although it lowered its price target to $833 from $1,045. Read More.
• Positive Sentiment: Caterpillar appeared on a list of stocks insiders are buying after the market sell-off, a signal some investors may view as confidence in the company after its decline. Read More.
• Neutral Sentiment: Bank of America maintained its Buy rating but warned Caterpillar’s valuation could face further pressure if uncertainty around data-center investment persists. The bank noted the earnings multiple had declined from about 30 to 17. Read More.

Insider Transactions at Caterpillar

In other news, CEO Joseph E. Creed sold 32,401 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $808.98, for a total value of $26,211,760.98. Following the completion of the sale, the chief executive officer owned 34,555 shares in the company, valued at approximately $27,954,303.90. This trade represents a 48.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director C Jr bought 1,000 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The shares were bought at an average price of $620.39 per share, for a total transaction of $620,390.00. Following the completion of the acquisition, the director owned 4,714 shares in the company, valued at approximately $2,924,518.46. This trade represents a 26.93% increase in their position. The SEC filing for this purchase provides additional information. 0.33% of the stock is currently owned by company insiders.

Caterpillar Stock Performance

NYSE:CAT opened at $601.75 on Thursday. The firm’s fifty day simple moving average is $748.35 and its 200 day simple moving average is $805.55. The company has a current ratio of 1.42, a quick ratio of 0.88 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a twelve month low of $537.08 and a twelve month high of $1,073.46. The firm has a market capitalization of $275.36 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 1.01 and a beta of 1.65.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Thursday, October 29th. The industrial products company reported $7.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.06 by $0.14. Caterpillar had a return on equity of 59.87% and a net margin of 15.21%. The firm had revenue of $20.68 billion during the quarter, compared to the consensus estimate of $20.76 billion. During the same period in the prior year, the firm earned $4.95 EPS. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. As a group, equities research analysts expect that Caterpillar Inc. will post 27.38 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Monday, October 26th will be given a $1.63 dividend. The ex-dividend date of this dividend is Monday, October 26th. This represents a $6.52 annualized dividend and a dividend yield of 1.1%. Caterpillar’s dividend payout ratio is presently 25.58%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CAT. Royal Bank Of Canada lowered their price target on Caterpillar from $897.00 to $722.00 and set a “sector perform” rating for the company in a research report on Friday, October 30th. President Capital started coverage on Caterpillar in a report on Friday, September 18th. They issued a “buy” rating and a $999.00 price objective on the stock. Needham & Company LLC set a $980.00 price objective on Caterpillar in a research note on Thursday, September 10th. JPMorgan Chase & Co. decreased their target price on Caterpillar from $1,100.00 to $1,000.00 and set an “overweight” rating for the company in a report on Friday, October 30th. Finally, Sanford C. Bernstein reissued a “market perform” rating and set a $749.00 target price on shares of Caterpillar in a research report on Wednesday, October 14th. Fifteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $898.25.

Caterpillar Company Profile

Caterpillar Inc. is a global manufacturer of construction and mining equipment, engines, turbines, and related products and services. Its offerings include earthmoving and material-handling machines, diesel and natural gas engines, power-generation systems, and equipment and technologies used in mining and transportation. The company’s products are commonly sold under the Cat brand. Caterpillar serves customers in markets around the world through a network of independent dealers. Its businesses also provide parts, maintenance, equipment rental, and other support services, as well as financing and insurance through its financial services operations.